Weekend Charts: Reality Check

This is a well articulated case for some type of market correction soon. I encourage you to read this post if you are interested in technical analysis.

NorthmanTrader

reality-checkDespite playing a bear on twitter for a while now I’m primarily a trader who seeks out good risk/reward entries and exits. I can’t influence the macro and so there is really no point in raving against it. Yet my bearish view on the macro remains informed by a relatively solid understanding of the workings of finance, capital investment, economics, debt, and currencies on the one hand and a long studied view of how society at large is evolving. And the picture continues to deteriorate despite the many claims to the contrary. This bull market remains one of central banks who will never leave, buybacks at all time high prices to augment failing organic growth and algos chasing stops. It is a system based on liquidity excess and while i’m looking forward to trade from the long side the risk/reward is not favorable until some of this excess has been…

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